Arbitration Council of India:
The Supreme Court has asked the Union government to respond to a petition seeking the establishment of the Arbitration Council of India (ACI) and the formulation of uniform guidelines for the regulation, conduct, and accreditation of arbitral institutions and arbitrators.
- The Arbitration and Conciliation (Amendment) Act, 2019 envisaged the ACI as the central regulator for institutional arbitration, however, the Council has still not been constituted nearly six years later.
- Arbitration Council of India is a statutory body under Part IA (Sections 43A–43M) of the Arbitration and Conciliation Act, 1996, introduced by the Arbitration and Conciliation (Amendment) Act, 2019. It is based on the recommendations of Justice B.N. Srikrishna Committee (2017).
- Composition and Appointment:
- Chairperson: To be appointed by the Union Government in consultation with the Chief Justice of India. Eligible persons include a former Supreme Court Judge, a former High Court Chief Justice/Judge, or an eminent arbitration practitioner.
- Other Members: Includes eminent arbitration practitioners, academicians, and ex officio government representatives.
- Mandate & Functions: Acts as the central regulatory body to grade arbitral institutions, accredit arbitrators, maintain an arbitral awards depository, promote Alternative Dispute Resolution (ADR) mechanisms (e.g., mediation, conciliation), and frame policies for uniform professional standards.
